California city becomes first to adopt eminent domain plan

The city of Richmond, California, said on Tuesday it will use its power of eminent domain, if necessary, to seize “underwater” mortgage loans to keep its residents in their homes, becoming the first US municipality to adopt such an approach.

via Business feed http://www.scmp.com/business/economy/article/1293327/california-city-becomes-first-adopt-eminent-domain-plan

California city becomes first to adopt eminent domain plan

The city of Richmond, California, said on Tuesday it will use its power of eminent domain, if necessary, to seize “underwater” mortgage loans to keep its residents in their homes, becoming the first US municipality to adopt such an approach.

via Business feed http://www.scmp.com/business/economy/article/1293326/california-city-becomes-first-adopt-eminent-domain-plan

10 die in Shanghai heatwave

More than 10 people have died in Shanghai, a local health official said as the city grapples with its highest temperatures in at least 140 years. Th...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39327

Japan’s robots eye car industry to take up smartphone slack

As the breakneck growth in the global smartphone market eases, the mostly Japanese companies that make the robots that build the phones are looking to automakers to take up the slack.

via Business feed http://www.scmp.com/business/companies/article/1293321/japans-robots-eye-car-industry-take-smartphone-slack

Taiwan general among 18 charged over soldier’s death

Taiwanese prosecutors indicted 18 military officials over the death of a young conscript who had been subjected to “cruel and abusive'' punishment. ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39326

Nikkei dives 1.4pc

Stocks in Tokyo closed down 1.45 percent after the previous day's gains, with the latest batch of Japanese corporate earnings failing to stoke buying...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39325

Cadmium-tainted soil causes 26 deaths in Hunan, children born with deformities

At least 26 villagers have died from cadmium poisoning since 2009 near a disused factory in central China, local media said, underscoring the countr...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39324

China shares set for solid July finish, property gets policy lift

Hong Kong and China shares are set to end July on a solid footing, lifted by the mainland’s property sector as investors cheered comments from China’s politburo that were seen affirming greater official tolerance for home price increases.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1293319/china-shares-set-solid-july-finish-property-gets-policy

Wyeth docked US$490m for profiting from bogus claims on kidney drug Rapamune

Wyeth Pharmaceuticals has pleaded guilty to misbranding a drug that prevents the rejection of organ transplants and agreed to pay US$490.9 million, ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39323

Bank of England to hold rates as recovery takes hold

The Bank of England is expected to freeze record-low interest rates on Thursday amid Britain’s strengthening economic recovery, but could signal more stimulus moves, analysts said.

via Business feed http://www.scmp.com/business/economy/article/1293315/bank-england-hold-rates-recovery-takes-hold

China underwhelms with salvo to slim bloated industry

China’s edict to more than 1,900 companies to shut excess production capacity by September is the latest effort to slim down bloated industries, but in the key steel, aluminium and cement sectors the cuts are just a fraction of their surpluses.

via Business feed http://www.scmp.com/business/economy/article/1293313/china-underwhelms-salvo-slim-bloated-industry

(Basketball) Knicks guard who made league history dies

Oscar “Ossie'' Schectman, the former New York Knicks guard who scored the first basket in NBA history, died yesterday. He was 94. Schectman's son Pet...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39322

New Zealand’s Fonterra ups dairy payout forecast, sees margin squeeze

New Zealand’s Fonterra raised its milk price forecast for the upcoming this year/14 financial year by 7 per cent on Wednesday due to climbing global dairy prices and a weaker New Zealand dollar.

via Business feed http://www.scmp.com/business/commodities/article/1293311/new-zealands-fonterra-ups-dairy-payout-forecast-sees-margin

Psy to launch new album in September

South Korean "Gangnam Style'' rapper Psy plans to release a new album in September and says he has already recorded three songs for the project. "A...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39321

Microsoft losing money on Surface tablets

Microsoft’s Surface tablets have yet to make any profit as sputtering sales have been eclipsed by advertising costs and an accounting charge, according to the software company’s annual report.

via Business feed http://www.scmp.com/business/companies/article/1293309/microsoft-losing-money-surface-tablets

Germany’s Siemens to settle leadership turmoil

via Business feed http://www.scmp.com/business/companies/article/1293308/germanys-siemens-settle-leadership-turmoil

UK lawmakers call for review of corporate tax

A panel of UK lawmakers has called on the government to conduct a review of Britain’s corporate income tax regime to tackle what it said was a “serious problem of avoidance”.

via Business feed http://www.scmp.com/business/economy/article/1293307/uk-lawmakers-call-review-corporate-tax

Chinese workers strike over takeover of US firm

More than 5,000 Chinese workers at a Sino-US joint venture tyre manufacturer have gone on strike against the American parent company's US$2.5 billio...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39320

EU regulator intensifies scrutiny of Google search results

EU antitrust regulators sharpened their scrutiny of how Google ranks its web search results, asking rivals whether their lower rankings affected the number of visitors to their sites, a European Commission questionnaire showed.

via Business feed http://www.scmp.com/business/companies/article/1293304/eu-regulator-intensifies-scrutiny-google-search-results

Ford to offer natural gas pickups

Ford soon will offer a natural gas version of its F-150 pickup truck, the most popular vehicle in the US The company is the first Detroit automaker w...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39319

Hang Seng inches up at lunch

Hong Kong stocks climbed 0.22 percent in the morning session on Wednesday as dealers await the end of a US Federal Reserve meeting, looking for clues ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39318

Australia approves China Molybdenum’s Northparkes deal

Australia’s foreign investment board has approved China Molybdenum’s purchase of a majority stake in the Northparkes copper mine from Rio Tinto, clearing a significant hurdle for the US$820 million deal.

via Business feed http://www.scmp.com/business/companies/article/1293301/australia-approves-china-molybdenums-northparkes-deal

Symantec gains as hacking worries bring in more business

Symantec, the maker of Norton anti-virus software, posted better-than-expected quarterly results as customers used more of its security products in the wake of a series of hacking attacks, sending the company’s shares up 4 per cent.

via Business feed http://www.scmp.com/business/companies/article/1293300/symantec-gains-hacking-worries-bring-more-business

Protest against Taiwan-China trade deal

Dozens of Taiwanese have scuffled with police during a demonstration against a new trade agreement with China. Wednesday's protest outside the island...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39317

Chinese woman charged with defacing Washington National Cathedral carried green paint in bags

A Chinese woman charged with defacing the Washington National Cathedral and who has a Chinese passport was carrying a soda can containing green paint ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39316

Lawsuit alleges Apple shortchanges store workers

A proposed class-action lawsuit alleges Apple has been mistreating thousands of employees who haven’t been paid while forced to wait in line to show they aren’t trying to steal an iPhone, iPad or other merchandise from the company’s bustling stores.

via Business feed http://www.scmp.com/business/companies/article/1293295/lawsuit-alleges-apple-shortchanges-store-workers

Lawsuit alleges Apple shortchanges store workers

A proposed class-action lawsuit alleges Apple has been mistreating thousands of employees who haven’t been paid while forced to wait in line to show they aren’t trying to steal an iPhone, iPad or other merchandise from the company’s bustling stores.

via Business feed http://www.scmp.com/business/companies/article/1293294/lawsuit-alleges-apple-shortchanges-store-workers

Huge Saudi metro projects aim to shift economy beyond oil

A US$22.5 billion plan to build Riyadh’s first metro rail system aims to achieve more than improving the quality of life in the congested Saudi capital: it is part of an ambitious effort to shift the country’s economy beyond oil.

via Business feed http://www.scmp.com/business/economy/article/1293293/huge-saudi-metro-projects-aim-shift-economy-beyond-oil

Uptick for Nikkei at break

Stocks in Tokyo fell 0.76 percent morning on profit-taking after the previous day's gains, as the latest batch of Japanese corporate earnings failed ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39315

12 injured in Tuen Mun knife attack

Twelve people have been injured in a knife attack on board a coach in Tuen Mun. The attack happened as the bus was taking workers to their office at ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39314

Fiat wins partial victory in bid to own all of Chrysler

Fiat won a partial victory on Tuesday in its path to a full buyout of Chrysler after a US judge accepted the Italian carmaker’s legal positions in two pivotal disputes with an autoworkers’ health-care trust that is a minority Chrysler shareholder.

via Business feed http://www.scmp.com/business/companies/article/1293286/fiat-wins-partial-victory-bid-own-all-chrysler

Profit warning at thriving Chrysler hits parent Fiat

Fiat’s US unit Chrysler, which generates most of the group’s net profit, cut its profit forecast as it struggled to fill orders due to parts shortages, hitting the Italian automaker’s shares.

via Business feed http://www.scmp.com/business/companies/article/1293283/profit-warning-thriving-chrysler-hits-parent-fiat

(Swimming) Ledecky sets new mark in 1500m free

American teenager Katie Ledecky (pictured) smashed the world record in the 1,500 meter freestyle for her second gold medal at the world swimming champ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39313

Facebook stock almost hits IPO price, 14 months after rocky debut

Facebook’s stock on Tuesday came within a hair of reclaiming its US$38 debut price for the first time since going public last year, a milestone in the social networking company’s effort to wipe away Wall Street’s scepticism of its business.

via Business feed http://www.scmp.com/business/companies/article/1293282/facebook-stock-almost-hits-ipo-price-14-months-after-rocky-debut

Jury in ex-Goldman trader trial hear closing arguments

Jurors on Tuesday heard closing arguments in the US government’s case against Fabrice Tourre, the ex-Goldman Sachs trader nicknamed “Fabulous Fab” who is charged with defrauding investors.

via Business feed http://www.scmp.com/business/banking-finance/article/1293281/jury-ex-goldman-trader-trial-hear-closing-arguments

(Swimming) Grevers caps golden triple for US

Matt Grevers admitted he was motivated to win the men's 100 meters backstroke gold at swimming's world championships in Spain after seeing team-mate...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39312

Technology overhaul helps VW to surprise profit gain

Volkswagen posted a surprise gain in second-quarter earnings, reaping the benefits of new cost-cutting technology and growing sales of luxury cars.

via Business feed http://www.scmp.com/business/companies/article/1293279/technology-overhaul-helps-vw-surprise-profit-gain

Hang Seng, Shanghai advance

Stocks in Hong Kong climbed 0.24 percent in the first few minutes as investors await the end of a Federal Reserve policy meeting later in the day. T...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39311

Macau City of Dreams performer Cesilie Carlton hits heady heights in golden dive

Cesilie Carlton (pictured) who performs at the City of Dreams casino in Macau, plunged the equivalent of seven stories into the murky waters of Barcel...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39310

China bans Arkansas poultry after mild bird flu strain

China has banned imports of poultry and poultry products from the state of Arkansas after a low-pathogenic strain of avian influenza was found in the state in June, US government and industry officials said on Tuesday.

via Business feed http://www.scmp.com/news/china/article/1293277/china-bans-arkansas-poultry-after-mild-bird-flu-strain

(Swimming) Teen Meilutyte enjoys golden glow

Olympic champion Ruta Meilutyte (pictured) won the women's 100m breaststroke gold medal in Barcelona yesterday, a day after setting the new world rec...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39309

Macau mogul goes for less kitsch in taking down failed Fisherman's Wharf theme park

Macau tycoon David Chow Kam-fai is replacing it with something more in keeping with the neighbourhood: a casino resort boasting an opera house and dinosaur museum that he hopes will return him to the spotlight of the world’s largest gambling hub.

via Business feed http://www.scmp.com/business/companies/article/1293276/macau-mogul-goes-less-kitsch-taking-down-failed-fishermans-wharf

Chinese woman who splashed paint over Washington’s National Cathedral charged with vandalism

A Chinese woman appeared in a Washington court for splattering green paint inside the National Cathedral the day before, the US Attorney's Office sa...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39308

Half of Mexico, 53 million, in poverty

Mexico's enormous and worsening poverty figures underscore that authorities have not made fighting it a top priority, Amnesty International said. T...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39307

Fourth Alstom exec charged over Jakarta graft

The US Department of Justice charged a fourth person in an Indonesia bribery scandal involving officials from French power company Alstom. Lawrence ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39306

Nikkei retreats

Stocks in Tokyo opened 0.98 percent lower as investors awaited a policy decision by the Federal Reserve and US growth data. The benchmark Nikkei 225 ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39305

(Manning verdict) Assange says sharing true info is not spying

The conviction of US army private Bradley Manning shows that journalists must fight to keep their sources safe, WikiLeaks founder Julian Assange said....



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39304

(Manning verdict) ‘American democracy dodged a bullet’

Pentagon Papers leaker Daniel Ellsberg, who in the early 1970s spilled a secret Defense Department history of US involvement in Vietnam that showed th...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39303

(Manning verdict) Reporters slam dangerous offensive

London-based rights group Amnesty International accused the US of “a serious overreach'' in its unsuccessful pursuit of charges of “aiding the enemy....



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39302

Las Vegas Sands appeals US$70m jury award to Hong Kong businessman

Las Vegas Sands asked a Nevada judge on Tuesday to throw out a second jury verdict awarding a former consultant a US$70 million settlement in a breach-of-contract case.

via Business feed http://www.scmp.com/business/companies/article/1293275/las-vegas-sands-appeals-us70m-jury-award-hong-kong-businessman

China shares rebound from three-week low after PBOC move, Hong Kong gain

China shares rebound from 3-week low after PBOC move, Hong Kong gains China shares climbed from a three-week low on Tuesday, with Hong Kong markets also firmer, led by the banking sector after the Chinese central bank injected cash into the money markets for the first tim

via Business feed http://www.scmp.com/business/money/stock-talk/article/1293025/china-shares-rebound-three-week-low-after-pboc-move-hong

Top banker gunned down in broad daylight raising fears of Malaysia’s violent crime wave

A Bahrain-born banker who founded Malaysia's fifth-largest bank was shot to death in Kuala Lumpur, Malaysian police said, fueling concerns about risin...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39276

Teenager crowned King of Cube

Feliks Zemdegs beat 574 other competitors from 36 countries to win the 2013 Rubik's Cube World Championship. The 17-year-old Australian took an avera...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39277

Deutsche Bank Q2 misses expectations, hit by legal costs

Deutsche Bank pledged to cut risky assets from its balance sheet in response to regulatory concerns, as quarterly profit missed expectations, hit by a 630 million euro (HK$6.49 billion) hike in litigation reserves.

via Business feed http://www.scmp.com/business/banking-finance/article/1293021/deutsche-bank-q2-misses-expectations-hit-legal-costs

Organized crime eroding economies

Organized crime is so big globally that were it a country, it would be part of the G20 group of major economies, according to the Australian Crime Com...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39275

Cuba looks to medical tourism as income source

Football legend Diego Maradona blazed a path for Cuba to become a medical tourism destination when he travelled to the island for drug addiction treatment in 2000.

via Business feed http://www.scmp.com/business/economy/article/1293016/cuba-looks-medical-tourism-income-source

Beijing Enterprises to buy 22pc of China Gas for US$1.1b

Beijing Enterprises Holdings said on Tuesday it would buy from its parent company 22.01 per cent of city gas pipelines operator China Gas Holdings for HK$8.22 billion ($1.06 billion) to strengthen its position in the Chinese natural gas sector.

via Business feed http://www.scmp.com/business/companies/article/1293015/beijing-enterprises-buy-22pc-china-gas-us11b

Neymar still behind Messi, says former coach

Neymar's former coach Muricy Ramalho believed the Brazil striker could not yet be compared to new Barcelona teammate Lionel Messi. The 57-year-old, s...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39274

Booze-free zones proposed for waterfront hangouts to keep Singapore drunks under control

Singapore's nightclub owners have called for areas free of alcohol in an attempt to get to grips with drunks in Clarke Quay and Robertson Quay. Figh...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39273

Students tour disrupted by travel agency shutdown

The closure a travel agent specialising in student study tours has threatened the plans of some 70 students and teachers from a secondary school. AIE...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39272

No epidemic outbreaks in quake-hit Gansu

No epidemic outbreaks or public health emergencies have been reported in a quake-hit region in Gansu Province, health authorities said Tuesday. More ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39271

China July official PMI seen dipping below watershed line

Activity in China’s vast manufacturing sector may have contracted in July for the first time in 10 months, a Reuters poll showed, signalling a protracted slowdown in the world’s second-largest economy as demand at home and abroad sags.

via Business feed http://www.scmp.com/business/economy/article/1293009/china-july-official-pmi-seen-dipping-below-watershed-line

Man tried over poisoned dumplings

A court in Hebei Province on Tuesday opened a trial for a man who allegedly added poison to frozen dumplings that sickened 10 people in Japan in 2008....



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39270

Legco demand report on stadium pitch

There's been a demand by Legco for the government to submit a full report on the poor state of the pitch at the Hong Kong stadium. English Premiershi...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39269

Australian rates, dollar can go lower: central bank

Australia’s top central banker said inflation would be no bar to a cut in interest rates and the local currency could fall further, fuelling expectations of another cut in interest rates next week and driving the Australian dollar to a two-week low.

via Business feed http://www.scmp.com/business/economy/article/1293006/australian-rates-dollar-can-go-lower-central-bank

BMW eases path to EV ownership to gain “meaningful” sales

BMW aims to win a “meaningful” segment of the electric car market with its i-series battery-powered models by offering luxurious styling and packages designed to help owners overcome the traditional hurdles to electric car ownership.

via Business feed http://www.scmp.com/business/companies/article/1293004/bmw-eases-path-ev-ownership-gain-meaningful-sales

3 cabbies arrested for extra fares

Three taxi drivers were arrested for illegal charging extra fares on the routes to the airport after a series of undercover operations. Police chief ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39268

(Asiana crash) Families of three dead Chinese teens to sue in US

Families of the three Chinese girls killed in the South Korean-owned Asiana Airlines jetliner crash in San Francisco on July 6 have retained a US law ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39267

Paul Chan says family to sell land by tender

Development Secretary Paul Chan Mo-po says his family plans to sell by public tender the plot of land formerly owned by his wife that has triggered co...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39266

China risks following Japan into economic coma

After decades of emulating Japan’s export-driven economic miracle, China appears in danger of following it into the same kind of economic coma that Japan is trying to wake up from 20 years later.

via Business feed http://www.scmp.com/business/economy/article/1293000/china-risks-following-japan-economic-coma

Beijing airport bomb suspect arrested

Ji Zhongxing, who was suspected of setting off a home-made explosive at the Beijing Capital International Airport, has been arrested, police said toda...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39265

Nikkei gains on bargain hunting

Tokyo stocks gained Tuesday morning on bargain-hunting after Nikkei dived over 1,000 points over the last four sessions, but the gains were limited as...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39264

Hudson’s Bay boss bets big on department stores with Saks buy

Richard Baker is doubling down on his attempt to revive big-name department stores with a US$2.4 billion (HK$18.6 billion) bid to buy Saks, bringing the New York retailer into Canada and under the same roof as Lord & Taylor and Canada’s Hudson’s Bay.

via Business feed http://www.scmp.com/business/companies/article/1292997/hudsons-bay-boss-bets-big-department-stores-saks-buy

Heavenly iron ore prices bound for purgatory as China reforms

From building scores of new towns to constructing state-of-the-art rail networks, China’s demand for steel to feed its modern-day industrial revolution has driven a spectacular rally in the price of the raw material iron ore.

via Business feed http://www.scmp.com/business/commodities/article/1292994/heavenly-iron-ore-prices-bound-purgatory-china-reforms

Alleged baby killer arrested in Beijing

A suspect surnamed Han who allegedly killed a baby girl in Beijing was arrested on Monday, local police said on Tuesday. The procuratorate of Beijing...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39263

IMF approves US$2.3b aid for Greece

The International Monetary Fund on Monday approved a further 1.7 billion euros (HK$17.5 billion) in funds for Greece’s bailout program after completing the fourth review of the cash-strapped euro zone state.

via Business feed http://www.scmp.com/business/economy/article/1292987/imf-approves-us23b-aid-greece

Japan jobless rate drops to five-year low in June

Japan's unemployment rate fell below 4.0 percent for first time since October 2008 to 3.9 percent in June from the previous month, according to the Ja...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39262

Industry fights safety retrofit of older rail cars

The oil industry and U.S railroads are resisting the Obama administration’s attempt to boost safety standards for the type of rail car involved in a fiery, fatal explosion in Canada, citing costs and technical challenges.

via Business feed http://www.scmp.com/business/commodities/article/1292986/industry-fights-safety-retrofit-older-rail-cars

Ad groups plot to compete with new Publicis-Omnicom

A plan to merge Publicis and Omnicom into the world’s biggest advertising group has rivals ready to poach their blue-chip clients that might leave the new agency as it faces potential conflicts of interest.

via Business feed http://www.scmp.com/business/companies/article/1292985/ad-groups-plot-compete-new-publicis-omnicom

Wynn reports US$152m earnings, Macau VIP revenue drops

Wynn Resorts said it made less money than expected in Macau, and its second quarter missed analysts' forecasts. Excluding special items Wynn made US...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39261

South Korea factories see better output in June

South Korea's industrial output rebounded in June thanks to improved manufacturing activity, official data showed Tuesday. Production in the mini...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39260

Bernanke to be questioned in AIG suit

A US judge has ordered that Federal Reserve Chairman Ben Bernanke can be questioned in a lawsuit against the government filed by the former head of Am...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39259

Caesars casino losses narrow

Casino operator Caesars Entertainment Corp posted a smaller loss for its fiscal second quarter, but results still missed expectations, as slots and ta...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39258

Study claims evolution paved way to monogamy

Scientists are coming closer to understanding the evolutionary reason behind monogamy. Two new studies are exploring different advantages of the prac...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39257

(Cricket) Champs India in easier group

England and Australia have been drawn in the same group and the 2015 Cricket World Cup final will be played as a day-night match at the Melbourne Cric...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39256

Barclays planning 5b pound share sale: source

Barclays is planning to issue about 5 billion pounds (HK$59.6 billion) of new shares to help plug a 7 billion pound capital shortfall triggered by new UK regulatory demands, two sources familiar with the matter told Reuters.

via Business feed http://www.scmp.com/business/banking-finance/article/1292981/barclays-planning-5b-pound-share-sale-source

(Football) Juve begin season at Sampdoria

Champions Juventus will begin the defense of their Serie A title with a trip to Sampdoria on the opening day of the 2013/14 season. On that same we...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39255

Shanghai inches up

Shares in Shanghai were up 0.46 percent in morning trade on bargain hunting after tumbling 1.72 percent in the previous session, dealers said. The b...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39254

Palestinian-Israeli talks resume

Israelis and Palestinians resumed direct talks for the first time in three years as they joined US Secretary of State John Kerry to share an evening ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39253

Hang Seng directionless

Stocks in Hong Kong started flat as bargain hunting offset a weak lead from Wall Street, while investors await a US Federal Reserve policy meeting. ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39252

(High diving) Colombian Duque stands tall

High diving has taken the plunge into the sporting mainstream. Thousands of people turned out yesterday to watch 14 competitors descend from a height...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39251

SEC fraud case against ex-Goldman trader Tourre in home stretch

Testimony has ended in the civil fraud case of Fabrice Tourre, with lawyers for former Goldman Sachs trader not calling any witnesses before the US Securities and Exchange Commission’s case goes to a Manhattan federal jury.

via Business feed http://www.scmp.com/business/banking-finance/article/1292979/sec-fraud-case-against-ex-goldman-trader-tourre-home

Singapore among major shark trade hubs, India and Indonesia biggest butchers

Indonesia and India have been named the world's biggest catchers of sharks in an EU-backed inquiry into implementing a new pact to protect seven thr...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39250

Japanese factories slow down further

Japan's industrial output fell by a sharper-than-expected 3.3 percent on-month in June, government data show, underscoring the challenge Tokyo faces ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39249

Driver found dead in Swiss rail smash

Rescue workers at the site of the Swiss rail accident in which two trains collided, have found the body of one of the drivers, police said. A state...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39248

(Swimming) Hosszu grabs 200m gold, Ye Shiwen ends fourth

China's Olympic champion Ye Shiwen finished a shock fourth in yesteday's 200m individual medley final in Barcelona, Spain, while teenager Ruta Meilu...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39247

China drops Europe wine dumping inquiry after solar panel deal, says EU

China has agreed to discuss dropping its inquiry into whether Europe is dumping wine, the EU’s trade chief said on Monday, after EU and Chinese officials made a deal to avoid tariffs on solar panels from China.

via Business feed http://www.scmp.com/news/china/article/1292977/china-drops-europe-wine-dumping-inquiry-after-solar-panel-deal-says-eu

Japan June industrial output falls 3.3pc month-on-month

Japanese industrial output fell 3.3 per cent in June from the previous month, down for the first time in five months, government data showed on Tuesday, but analysts see factory activity on track for a recovery backed by exports and private consumption.

via Business feed http://www.scmp.com/business/economy/article/1292976/japan-june-industrial-output-falls-33pc-month-month

(NBA) Camby rejoins Rockets

Marcus Camby, the 2007 NBA Defensive Player of the Year, has signed a free agent contract to rejoin the Houston Rockets, the team announced. The 39...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39246

JPMorgan in the firing line for gaming the system in the US energy market

The top federal US energy regulator has accused banking giant JP Morgan Chase of manipulating energy prices, according to a “preliminary'' document....



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39245

CE meets Australian foreign minister

Chief Executive Leung Chun-ying met visiting Minister of Foreign Affairs of Australia Bob Carr to exchange views on the latest developments in Hong Ko...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39240

Poor pitch not stopping Man U match

The Home Affairs Secretary, Tsang Tak-shing, has apologized for the 'unsatisfactory' state of the pitch at the Hong Kong Stadium. Tonight's friendly ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39239

Maharaja’s daughters win claim to US$3b assets

A court in India has ruled that the daughters of a late maharaja should inherit his 200-billion-rupee (US$3.3-billion) estate because his will was f...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39238

Shenzhen attacker said to be mentally ill

A mentally ill man stabbed three passers-by to death in Shenzhen, police said. The man, identified only by his surname He, attacked several people on...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39237

Drugmaker Perrigo swallows up Elan

Michigan-based American pharma company Perrigo said it agreed to buy Irish biotech firm Elan in a deal worth about US$8.6 billion. The deal, pitched ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39236

Fatal fall woman seriously injures man

A 19-year-old man's been seriously injured after being hit by a woman who fell from a building in Siu Sai Wan. The woman was certified dead at the sce...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39235

Two women arrested meth smuggling

Hong Kong authorities said Monday they had arrested two women in possession of more than a dozen kilograms of crystal methamphetamine at the city's a...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39234

Iran eyes FIBA Asia Championship

Iran basketball coach said his team is aiming to win the title in the 2013 FIBA Asia Championship, Tehran Times daily reported on Monday. Iran basket...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39233

Syria captures key district in Homs

Syrian state TV says troops have captured a neighborhood that was one of the rebels' key strongholds in the embattled city of Homs. The announcement ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39232

French congratulate themselves over Mali poll

French Prime Minister Jean-Marc Ayrault (pictured) declared elections in Mali a “great success'' for France, which sent troops to the African nation...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39231

More than half of candidates pass last A-level exam

The A-Level exam will be discontinued next year and the results for the last exams will be released tomorrow. This year sees the final offer of the H...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39230

Hang Seng, Shanghai end lower

Hong Kong shares ended down 0.54 percent on Monday, in line with a regional sell-off as traders await a policy meeting of the US Federal Reserve later...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39229

Bad pitch condition raises concern

A fitness expert has expressed concern over possible injuries to players during tonight's match between Manchester United and Kitchee at the Hong Kong...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39228

Wife of development minister rejects land accusations

The wife of Development Secretary Paul Chan has taken out half-page newspaper advertisements to deny allegations that she had "accumulated" farmland i...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39227

Shau Kei Wan murder suspect not in court

A hand injury has prevented a mainland man charged with murdering his girlfriend and her two young children from appearing in Eastern Court. The pros...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39226

Apple factories won't hire Tibetans, Uighurs

Selected labor and ethical violations at at Apple supplier Pegatron's factories in China, cited by China Labour Watch in a report today. * No hiring...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39225

Apple’s Taiwan supplier Pegatron accused of forced overtime and underage workers

Three Chinese factories making Apple products impose excessive overtime and employ minors, a US-based advocacy group said. The iPhone and iPad make...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39224

Taipei names civilian defense minister

Taiwan has named a civilian to head up its defense ministry, an apparent bid to end weeks of protests over the death of a soldier held in a military b...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39223

China shares extend losing streak, drag Hong Kong lower

China shares are set for a fourth day of decline on Monday, with Hong Kong deepening losses, as concerns over China’s slowing economy kept investors sidelined ahead of data that may show the world’s second-largest economy losing more momentum.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1292765/china-shares-extend-losing-streak-drag-hong-kong-lower

Oversold China catches the eye of investors

A slowdown in China has hit its financial markets hard this year as fund managers cut exposure to the world’s second largest economy, but some investors say it may be time to jump back in.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1292762/oversold-china-catches-eye-investors

Nikkei dives 3.3pc

Stocks in Tokyo dived 3.32 percent as the US dollar hit a one-month low against the yen ahead of a closely watched US Federal Reserve policy meeting...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39222

Shenzhen attack kills three, wounds three

A Chinese man stabbed three passers-by to death in southern Shenzhen, police said, the latest in a series of killing sprees in the country. The man...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39221

Bangladesh struggles to check garment factories are safe

In the weeks since the Rana Plaza collapse killed more than 1,100 workers, at least five different Bangladesh agencies have sent teams to begin inspecting the estimated 5,600 factories that make up the nation’s US$20 billion (HK$155.1 billion) garment industry.

via Business feed http://www.scmp.com/business/economy/article/1292757/bangladesh-struggles-check-garment-factories-are-safe

Japan PM orders study of impact of sales tax alternatives: sources

Japanese Prime Minister Shinzo Abe has ordered a study of the economic impact of various alternatives for implementing a planned sales tax increase, including a plan for more gradual 1 per cent annual rises, government sources familiar with the situation said.

via Business feed http://www.scmp.com/business/economy/article/1292755/japan-pm-orders-study-impact-sales-tax-alternatives-sources

(Asiana crash) Ashes of Chinese teenage victims flown home to Jiangshan

The ashes of three Chinese teenagers who died in the South Korean-owned Asiana Airlines Boeing 777 crash in San Francisco were sent to their hometown ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39220

Fairfax deals sarcastic counterpunch to boastful Murdochs

Australian media giant Fairfax welcomed a boast by the sons of billionaires Rupert Murdoch and the late Kerry Packer that they had “killed’’ the grou...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39219

Amazon unveils new hiring spree ahead of Obama visit

Amazon.com unveiled a new hiring spree on Monday ahead of a visit by President Barack Obama to one of the Internet retailer’s giant distribution warehouses this week.

via Business feed http://www.scmp.com/business/companies/article/1292753/amazon-unveils-new-hiring-spree-ahead-obama-visit

Apple’s Mansfield moves to special projects

Apple said it will shift Bob Mansfield, senior vice president of technologies, out of its executive team to work on special projects.

via Business feed http://www.scmp.com/business/companies/article/1292751/apples-mansfield-moves-special-projects

Hang Seng in negative mode

Stocks in Hong Kong fell 0.57 percent in the morning session, in line with a regional sell-off as investors await the outcome of a US Federal Reserv...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39218

Chan’s spouse advertises innocence

The wife of Development Secretary Paul Chan Mo-po has taken out a half-page advertisement in several Chinese-language newspapers, denying allegations ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39217

Some say industry arrogance fuelled fracking anger

The boom in oil and gas fracking has led to jobs, billions in royalties and profits, and even some environmental gains.

via Business feed http://www.scmp.com/business/commodities/article/1292749/some-say-industry-arrogance-fuelled-fracking-anger

Boeing requests worldwide checks of Honeywell beacons

Boeing has asked airlines to inspect aircraft worldwide to gather data on Honeywell International emergency beacons that have come under scrutiny following a fire on a parked 787 Dreamliner two weeks ago.

via Business feed http://www.scmp.com/business/companies/article/1292746/boeing-requests-worldwide-checks-honeywell-beacons

New Zealand military admits spying on journalist

New Zealand's government says the defense force is investigating a report it collected phone metadata to spy on a journalist in Afghanistan who was fr...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39216

Nikkei plunges 2pc by break

Stocks in Tokyo plunged 2.26 percent as the US dollar fell to a one-month low against the yen ahead of a closely watched US Federal Reserve policy me...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39215

Rio Tinto sells Australia copper mine to Chinese firm for US$820m

Rio Tinto has agreed to sell its majority stake in the Northparkes copper mine in Australia to China Molybdenum for US$820 million (HK$6.4 billion), as the global miner looks to slash costs and cut debt.

via Business feed http://www.scmp.com/business/companies/article/1292743/rio-tinto-sells-australia-copper-mine-chinese-firm-us820m

Publicis, Omnicom to merge to create advertising giant

A proposed mega-merger between global ad agencies Publicis and Omnicom could bring rival accounts such as Coca-Cola and PepsiCo under one firm, underscoring the scale of the US$35.1 billion (HK$272.3 billion) deal and the potential conflicts it raises.

via Business feed http://www.scmp.com/business/companies/article/1292742/publicis-omnicom-merge-create-advertising-giant

40m euro jewels stolen from Carlton in Cannes

Diamonds and other jewels worth 40 million euro were stolen yesterday from the Carlton Intercontinental Hotel in Cannes, in one of Europe's biggest je...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39214

Cambodia opposition claims poll fraud

Cambodia's opposition party rejected Prime Minister Hun Sen's victory claim in weekend elections, alleging widespread irregularities. “The Cambodia N...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39213

China leaders play safe on reforms as economic growth sags

For all the strong rhetoric, China’s latest policy actions suggest a shift in focus on the economy to mix relatively pain-free reforms that burnish Beijing’s credentials for change with measures to prop up sagging growth.

via Business feed http://www.scmp.com/news/china/article/1292741/china-leaders-play-safe-reforms-economic-growth-sags

Twitter twerp held for threats to woman activist

British police arrested a 21-year-old man in connection with online threats made toward a feminist campaigner, a case which has ignited calls for soci...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39212

Four injured in Mong Kok taxi smash

Four people suffered injuries in a collision between two taxis outside Olympian city in Mong Kok. The four, including the two taxi drivers, were taken...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39211

Hang Seng, Shanghai in losing column

Stocks in Hong Kong fell 0.46 percent in the first few minutes of trade following a soft lead from Wall Street as dealers await a US Federal Reserve...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39210

Aussie Elkington faces sanctions over racist ‘Pakkis’ and ‘Pakistani robber guy’ jibes

Australian golfer Steve Elkington (pictured) could be disciplined for what, according to him, was his inadvertent “use of language in relation to the ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39209

(Swimming) Silver girl Costa toast of Spain

Melanie Costa (pictured) made a little bit of history with her silver medal in the women's 400-meter freestyle yesterday _ and the Spaniard didn't eve...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39208

(Swimming) Gold glitters in Sun’s hands

Sun Yang never really exerted himself until he got out of the pool. After winning the 400-meter freestyle last night by 3.23 seconds, the 1.98-meter ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39207

(Golf) Snedeker lifts Canadian Open

Brandt Snedeker fired a two-under par 70 in yesterday’s final round and held off a late charge by fellow American Dustin Johnson to win the $5.6 mil...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39206

Spain crash train driver charged

The driver of a train that hurtled off the rails in Spain was charged with 79 counts of reckless homicide and released on bail after being questione...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39205

36 killed in Italy coach crash

Thirty-six people have died after a coach crashed off a flyover in southern Italy and plunged 30 metres down a slope, rescue services said. Rescue w...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39204

Nikkei losses continue

Stocks in Tokyo opened down 1.63 percent after the dollar fell against the yen as investors awaited the US central bank's policy meeting this week. T...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39203

Pope tells clerics to get off heir pedestals and urges faithful to stop idolizing them

Pope Francis' historic trip to his home continent ended after a week-long visit to Brazil that drew millions to Rio de Janeiro's iconic Copacabana bea...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39202

Action on trust law loophole urged

Hong Kong lawmakers have urged the government to take quick action to plug what they describe as loopholes in local trust law governing how administrators handle client money held in trusts.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1292668/action-trust-law-loophole-urged

Expectations mount for more China interest rate liberalisation

What will be the next step in Beijing's interest rate liberalisation programme? The forecasting game has begun after the central bank freed up lending rates earlier this month, disappointing market participants who had anticipated a more significant change.

via Business feed http://www.scmp.com/business/banking-finance/article/1292685/expectations-mount-more-china-interest-rate-liberalisation

Contradictions tower over China's urbanisation push

Samsung's US$7 billion semiconductor plant sitting on land spanning 9.4 square kilometres in the southwest of China's ancient capital of Xian is a gleaming example of the inherent contradictions in Premier Li Keqiang's new urbanisation drive.

via Business feed http://www.scmp.com/business/economy/article/1292697/contradictions-tower-over-chinas-urbanisation-push

Grasp your priorities in life with a budget

Life is a lottery. Why bother with financial planning?

Life is a lottery and, even for the most controlling, mostly beyond our control. All we can hope for is to manage the odds and relish the evens.

Financial planning is, at least, risk management and, at best, wealth enhancement.

via Business feed http://www.scmp.com/business/money/expert-qa/article/1292609/grasp-your-priorities-life-budget

Taking the passive or active route

The case for the passive investing style - Jane Leung

via Business feed http://www.scmp.com/business/money/markets-investing/article/1292613/taking-passive-or-active-route

Pacific Textiles buys back stock; Longrun Tea chair ups stake in firm

Buying by listed companies' directors fell for the second straight week while selling was flat, according to stock exchange filings last week. Some 20 companies recorded a combined 119 purchases worth HK$282 million.

via Business feed http://www.scmp.com/business/money/money-news/article/1292684/pacific-textiles-buys-back-stock-longrun-tea-chair-ups

When dealing with money, check hedge fund's back office

The lure of high returns that aren't correlated to other markets has led to an explosion of global hedge fund money, to more than US$2 trillion. Unfortunately, "explosion" also describes a number of hedge funds that literally blew up over the years due to fraud or poor risk controls.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1292607/when-dealing-money-check-hedge-funds-back-office

Connections trump everything in world of private equity in China

Private equity doesn't have a long history in China, but it has grabbed attention over the past few years, partly because of the individuals standing behind the businesses. In other words, people are key in China. I mean, well, those special people.

via Business feed http://www.scmp.com/business/china-business/article/1292661/connections-trump-everything-world-private-equity-china

Migrant workers left out in urban cold

Every morning, Wu Wenjuan sends her son to a kindergarten in northern Beijing before riding a motorcycle to a hotel to work as a cleaner on hourly pay, a job she found through a popular internet portal.

via Business feed http://www.scmp.com/business/economy/article/1292700/migrant-workers-left-out-urban-cold

Hong Kong accountancy watchdog launches probe into Deborah Annells

Hong Kong's accountancy watchdog has launched an investigation after a complaint was lodged against the local accountant expelled from Britain's Chartered Institution of Taxation following a finding she had behaved dishonestly in relation to a Hong Kong client.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1292666/hong-kong-accountancy-watchdog-launches-probe

CLP deal may lead to spin-off of assets

CLP's A$475 million (HK$3.4 billion) acquisition of two power plants in Australia is a step towards making its energy assets there more marketable to investors as a separate listed unit in future, even if by itself it is not a major strategic move, according to analysts.

via Business feed http://www.scmp.com/business/companies/article/1292683/clp-deal-may-lead-spin-assets

Hong Kong regulator seeks liquidation of fraud-accused China Metal Recycling

Lawmaker Ronny Tong Ka-wah, a senior counsel, said yesterday the law allowed the SFC or the financial secretary to apply for a court order to wind up a company if they believed doing so was in the public interest.

via Business feed http://www.scmp.com/business/companies/article/1292699/hong-kong-regulator-seeks-liquidation-fraud-accused-china-metal

Flights of infancy

The failure of AirAsia Japan last month highlights just how hard it can be for a budget airline to escape the influence of a parent that is a full-service carrier - in this case, its joint-venture partner, All Nippon Airways.

via Business feed http://www.scmp.com/business/companies/article/1292663/flights-infancy

Hang Lung denies in talks to buy Israel’s Clal Insurance stake

Chinese investment firm Hang Lung Group denied it was in talks to buy a stake in Israeli insurance company Clal Insurance from holding company IDB Development, saying it was not interested in buying businesses outside Hong Kong and mainland China.

via Business feed http://www.scmp.com/business/banking-finance/article/1292593/hang-lung-denies-talks-buy-israels-clal-insurance-stake

China orders nationwide government debt audit

China’s National Audit Office will conduct an audit of all government debt at the request of China’s State Council or cabinet, it said in a statement on Sunday, underlining concern over rising debt levels in the world’s second biggest economy.

via Business feed http://www.scmp.com/business/economy/article/1292515/china-orders-nationwide-government-debt-audit

Hotel bars best for love on the road

Be honest. How many times have you chatted up, or been chatted up, in a five-star hotel or when travelling business class?

via Business feed http://www.scmp.com/comment/blogs/article/1292455/hotel-bars-best-love-road

ATM relief in sight for HSBC customers

via Business feed http://www.scmp.com/comment/blogs/article/1292440/atm-relief-sight-hsbc-customers

EU, Beijing reach deal on solar panels

The European Commission said yesterday it had reached an "amicable solution" with Beijing over imports of solar panels, a dispute that had threatened a full-blown trade war between two of the world's largest trading powers.

via Business feed http://www.scmp.com/news/article/1292274/eu-beijing-reach-deal-solar-panels

GSK graft 'nationwide and systemic', state radio cites saleswoman as saying

China National Radio quoted the saleswoman, who only gave her surname, Wang, as saying that the company gave every sales representative a nationwide list of doctors, including their rank and contact details.

via Business feed http://www.scmp.com/news/china/article/1292273/gsk-graft-nationwide-and-systemic-state-radio-cites-saleswoman-saying

JPMorgan exiting physical commodities trading

JPMorgan Chase is exiting physical commodities trading, the bank said in a surprise statement, as Wall Street's role in the trading of oil tankers, coffee beans and metals comes under intense political and regulatory pressure.

via Business feed http://www.scmp.com/news/world/article/1292229/jpmorgan-exiting-physical-commodities-trading

Myanmar increases stake in China-invested mine

Myanmar has signed a revised contract that increases its share of the profits from a controversial Chinese-backed copper mine, the country's largest, officials said.

via Business feed http://www.scmp.com/news/asia/article/1292214/myanmar-increases-stake-china-invested-mine

HKMA just doing its bit to bolster a tiring currency

Somehow I get the feeling that we are not told the entire story here and that what we really see happening is an HKMA, now the world's chief yuan cheerleader, making a valiant effort to inspire a tiring currency.

via Business feed http://www.scmp.com/comment/insight-opinion/article/1292185/hkma-just-doing-its-bit-bolster-tiring-currency

GSK says expects China bribes probe to hit performance

GlaxoSmithKline expects its financial performance in China to take a hit from Bejing’s probe into bribery allegedly carried out by senior staff, the British pharmaceuticals company said on Wednesday.

via Business feed http://www.scmp.com/business/article/1292105/gsk-says-expects-china-bribes-probe-hit-performance

Hong Kong's family-owned banks struggle with succession as top executives age

Succession plans at family-owned banks in the city remain uncertain with top executives at Bank of East Asia and Wing Hang Bank already older than 65 years of age.

via Business feed http://www.scmp.com/business/banking-finance/article/1291619/hong-kongs-family-owned-banks-struggle-succession-top

Excellence Group stuns big players with winning Qianhai bids

Excellence Group, only the mainland's 48th-largest developer in terms of sales in the first half of this year, stunned the market yesterday when it beat big property players to secure two commercial sites in the first land auction in Shenzhen's Qianhai special economic zone for a total of 12.36 billion yuan (HK$15.5 billion).

via Business feed http://www.scmp.com/business/china-business/article/1291651/excellence-group-stuns-big-players-winning-qianhai-bids

Undignified announcement of judicial review outcome

Call us naive but we were a little shocked yesterday at the way in which the judgment was announced on whether to grant a judicial review on aspects of the proposed Shek Kwu Chau incinerator.

via Business feed http://www.scmp.com/business/article/1291597/undignified-announcement-judicial-review-outcome

Sincere moving its stores above ground level

Sincere is joining a parade of lifestyle retailers and eateries moving upstairs to escape soaring ground-level retail rents.

via Business feed http://www.scmp.com/business/companies/article/1291622/sincere-moving-its-stores-above-ground-level

UBS agrees US$885m deal for subprime lawsuit

UBS, Switzerland's largest bank, has agreed to pay US$885 million to Fannie Mae and Freddie Mac to settle claims that it improperly sold them mortgage-backed securities during the housing bubble, a US regulator said.

via Business feed http://www.scmp.com/business/banking-finance/article/1291603/ubs-agrees-us885m-deal-subprime-lawsuit

China sovereign fund CIC's 2012 profit jumps 60pc on overseas investments

The net profit of China's US$575 billion sovereign wealth fund China Investment Corp (CIC) surged 60 per cent last year, helped by a 10.6 per cent return on its overseas investment portfolio.

via Business feed http://www.scmp.com/business/china-business/article/1291646/china-sovereign-fund-cics-2012-profit-jumps-60pc-overseas

Li Keqiang speech leak reflects sensitivity of growth slowdown

If there was ever any doubt that the mainland would achieve economic growth of 7.5 per cent this year, it should be gone by now.

via Business feed http://www.scmp.com/business/economy/article/1291605/li-keqiang-speech-leak-reflects-sensitivity-growth-slowdown

Flagship Exchange Fund sheds HK$6.1b in first half

Weak bond markets and depreciating foreign currencies sparked a dramatic reversal in the performance of the Hong Kong government's flagship Exchange Fund.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1291649/exchange-fund-sheds-hk61b-first-half

Fitch: Investors flee China money market funds in second quarter

Mainland money market funds (MMF) saw a 40 per cent plunge in assets under management during the second quarter of the year as volatile conditions in the fledgling interbank lending market triggered a flood of redemptions, according to analysts at ratings agency Fitch.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1291648/fitch-investors-flee-china-money-market-funds

Shuanghui's Smithfield bid sparks US worries over supply of drug heparin

US lawmakers are concerned a Chinese company's planned US$4.7 billion acquisition of pork producer Smithfield Foods could affect the safety and availability of heparin, a blood-thinner widely used in heart surgery and kidney dialysis that is derived from pig intestines.

via Business feed http://www.scmp.com/business/companies/article/1291598/shuanghuis-smithfield-bid-sparks-us-worries-over-supply-drug

Few women than men looking to land senior corporate roles

While there are slightly more women studying at Hong Kong universities than men, they are far outnumbered among those attending executive master of business administration (EMBA) courses.

via Business feed http://www.scmp.com/business/companies/article/1291618/few-women-men-looking-land-senior-corporate-roles

Halliburton agrees to plead guilty in Gulf oil spill case

Halliburton Energy Services has agreed to plead guilty to destroying evidence in connection with the 2010 Gulf oil spill, the Department of Justice said on Thursday.

via Business feed http://www.scmp.com/news/world/article/1291143/halliburton-agrees-plead-guilty-gulf-oil-spill-case

China shares slip, Hong Kong flat in anaemic end to positive week

China shares trimmed weekly gains in lacklustre Friday trade, with financials put on the defensive as cash rates crept higher and the Chinese central bank chief reiterated that monetary policy would stay prudent, despite the slowing economy.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1291196/china-shares-slip-hong-kong-flat-anaemic-end-positive-week

Four found unconscious in flat

Two adults and two children have been found unconscious in a flat following a gas leak alert in Shau Kei Wan. Unconfirmed reports say two of them have...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39179

Legco call for Chan to resign

Members of a Legco panel have passed a non-binding motion calling for the Development Secretary, Paul Chan Mo-po, to resign. Chan is embroiled in a c...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39178

Occupy Central seeks talks with Church

An organiser of Occupy Central, Benny Tai Yiu-ting, says he plans to meet with the Catholic Diocese to gain a better understanding of its views on his...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39177

Hang Seng flat by break

Hong Kong shares ended the morning session almost unchanged on Friday following a tepid lead from Wall Street and as concerns linger over the Chinese ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39176

Debt, shadow finance bedevil China’s economy

Decades of breakneck expansion have given China gleaming skyscrapers and sleek railways, but brought piles of debt and dubious financial instruments analysts say are a potential time bomb that could strike a blow against global growth.

via Business feed http://www.scmp.com/business/economy/article/1291153/debt-shadow-finance-bedevil-chinas-economy

Japan prices turn higher, but BOJ’s goal remains tall order

Japan’s consumer prices rose in June for the first time in more than a year, a positive sign for the government’s battle against deflation, but the rises centred on higher electricity bills rather than stronger demand that could drive a durable recovery.

via Business feed http://www.scmp.com/business/economy/article/1291141/japan-prices-turn-higher-bojs-goal-remains-tall-order

Mobile growth dip takes shine off Samsung Electronics profit

Samsung Electronics is under mounting pressure to produce eye-catching new smartphones after its mobile business shrank 3.5 per cent in the second quarter, taking the gloss off a record US$8.5 billion operating profit.

via Business feed http://www.scmp.com/business/companies/article/1291124/mobile-growth-dip-takes-shine-samsung-electronics-profit

Colgate-Palmolive lowers profit view as dollar gains

Colgate-Palmolive cut its this year profit forecast due to the stronger dollar as it posted a lower second-quarter net profit, citing restructuring and other charges.

via Business feed http://www.scmp.com/business/companies/article/1291118/colgate-palmolive-lowers-profit-view-dollar-gains

US charges SAC Capital with insider trading crimes

US prosecutors indicted billionaire Steven A. Cohen’s hedge fund for insider trading, a rare move that could end the career of one of Wall Street’s most successful investors and trigger a fundamental change in how traders try to gain an edge over rivals.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1291116/us-charges-sac-capital-insider-trading-crimes

AIA first-half value of new business growth beats expectations

AIA Group, the world’s fourth-largest insurer by market capitalisation, reported on Friday a forecast-beating 26 per cent increase in its value of new business in the first half of the year, buoyed by growth across its markets in Asia.

via Business feed http://www.scmp.com/business/banking-finance/article/1291110/aia-first-half-value-new-business-growth-beats-expectations

Nikkei plunges 2pc

Stocks in Tokyo tumbled 2.14 percent as the yen strengthened sharply, weighing on exporter shares. The Nikkei 225 index lost 312.36 points to 14,250.5...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39175

Time Warner Cable gets new boss as industry ponders deals

Time Warner Cable’s longtime chief executive and chairman, Glenn Britt, will step down at the end of the year and be replaced by Robert Marcus, the company’s second in command.

via Business feed http://www.scmp.com/business/companies/article/1291105/time-warner-cable-gets-new-boss-industry-ponders-deals

Derailed Spanish train may been speeding

Spanish police were waiting to question one of the drivers of a train that derailed, killing at least 80 passengers, amid media reports it was trave...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39174

Caribbean nations take aim at the British, Dutch and French in slave-trader lawsuit

Leaders of more than a dozen Caribbean countries are seeking compensation from three European nations for what they say is the lingering legacy of the...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39173

A year on, Draghi’s ’save the euro’ pledge remains untested

A year after Mario Draghi vowed to do “whatever it takes” to save the euro, the European Central Bank president can claim to have staved off disaster - but he may have to back up his words with action before long.

via Business feed http://www.scmp.com/business/banking-finance/article/1291100/year-draghis-save-euro-pledge-remains-untested

UBS pays up US$885m to right bond wrongs

UBS is paying US$885 million to settle US government claims that the Swiss banking giant violated securities laws in its sales of mortgage-backed bond...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=39172